EMERGENCY CREDIT LINE GUARANTEE SCHEME (ECLGS)

Facility type

Working Capital Term Loan (WCTL)

Purpose

The purpose is to provide the lifeline to Micro, Small and Medium Enterprises (MSMEs) under Atmanirbhar Bharat Abhiyan to help them to boost the economic distress being faced due to the COVID-19 pandemic.

Validity

Available up to 31st March, 2023

Tenure

48 months including principal moratorium for first 12 months

Required Docs:


  • Application Form
  • KYC
  • GECL specific loan document
  • GST registration, borrower’s declaration required in case business enterprises / MSMEs are not required to obtain GST registration
  • Undertaking / Declaration from borrower
  • On turnover / outstanding loan amount as on Feb 29th, 2020
  • Certifying that existing loan was taken for business purpose
  • On GECL end use, GECL funds to be utilised for business purpose

Home Loan Interest Rate FAQs

An interest rate between 12.75% - 44% on a Home Loan is a good and affordable interest rate.

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Although the interest rate varies from lender to lender, the lowest rate of interest on a Home Loan is 12.75%

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It is when the loan interest rates remain unchanged throughout the loan tenure or repayment cycle.

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You can use TERA MERA GHAR HOUSING INDIA PRIVATE LIMITED AN ISO 9001 : 2008 Finance’s Home Loan EMI calculator, which will calculate the total interest payout based on selected factors such as the loan amount and tenure.

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The fixed interest rate on a Home Loan remains unchanged throughout the loan tenure. A floating interest rate fluctuates throughout the loan tenure.

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The interest rate on Rs. 1 lakh loan would entirely depend on the chosen loan tenure. If the tenure is less, the interest will be higher, while it will be lower if the chosen tenure is higher.

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The stamp duty charge is usually 0.1% on the total loan amount if the loan amount is less than Rs 10 lakhs.

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